Egypt seals PPP deals to boost renewable energy, water projects
Egypt’s Prime Minister Moustafa Madbouly oversaw on Thursday the signing of multiple agreements between the government and private sector companies. The deals, inked during the launch of the second progress report for the NWFE Platform, focus on key projects in renewable energy, water desalination, and industrial sustainability.
Renewable Energy Sector
Egypt’s Planning Minister Rania Al-Mashat signed an agreement with TAQA Arabia and France’s Voltalia to rehabilitate the Zaafarana Wind Farm, a pioneering project set to breathe new life into one of Egypt’s oldest wind farms.
The move, aligned with Egypt’s renewable energy strategy to source 42 per cent of its electricity from renewables by 2030, will integrate wind and solar energy solutions.
Norwegian renewable energy giant Scatec also signed a framework agreement with the Egyptian government to integrate its projects into the NWFE Programme to accelerate clean energy transition.
$650m Solar Power Project to Cut Costs for Egyptalum
Another significant agreement was a $650 million deal between Egyptalum and Scatec to construct a 1-gigawatt solar power plant in Nag Hammadi. The project will supply clean energy to Egypt’s largest aluminum complex, cutting operational costs and ensuring compliance with global carbon emission standards. The plant will meet 40 per cent of the facility’s energy needs, boosting efficiency and sustainability.
The agreement aims to enhance Egyptalum’s competitiveness in international markets while reinforcing Egypt’s industrial shift towards renewable energy.
Ain Sokhna Desalination Plant to Bolster Water Security
The Egyptian government signed a public-private partnership (PPP) agreement to develop a seawater desalination plant in Ain Sokhna. The project, designed to produce 1 million cubic metres of clean water per day, will be developed in collaboration with the European Bank for Reconstruction and Development (EBRD) and Egypt’s Ministry of Finance PPP Unit.
The first phase of the plant will have a 250,000 cubic metre daily capacity, serving Egypt’s industrial and green hydrogen projects over the next 20 years. The plan will play a significant role in securing sustainable water resources for Egypt’s industrial zones.
Egypt’s Commitment to Sustainability and Private Sector Growth
Prime Minister Madbouly emphasised Egypt’s commitment to fostering private sector-led economic growth, particularly in energy and infrastructure. He stressed that diversifying energy sources, expanding clean energy projects, and promoting sustainability are key pillars of Egypt’s economic vision.
Attribution: Amwal Al Ghad English